The Trend of Transforming Side Gigs into Main Ventures
In today’s rapidly growing gig economy, many individuals are discovering new avenues to transition their side hustles into full-time occupations or enterprises.
If you unearth something you are truly passionate about while being able to generate income from it, it’s advisable to persist and maximize its potential. Often, some of the most prosperous businesspersons today didn’t kickstart their fortune through traditional jobs but rather through pursuing hobbies or side gigs.
One prime example is Andy Dunn, the cofounder and former CEO of Bonobos. After selling Bonobos to Walmart in 2017 for $310 million, he now holds the position of senior vice president of digital brands at Walmart. Dunn’s journey began during his MBA days at Stanford Graduate School, where he used to sell chinos from his vehicle. Collaborating with his roommate and future cofounder Brian Spaley during his time at Stanford, Dunn delved into designing and retailing new men’s pants, which ultimately proved immensely lucrative.
Such instances also resonate in the realm of celebrities. Jay-Z, the first hip-hop billionaire, accrued most of his wealth from his diverse business interests. Regardless of the profession, there are increased opportunities to monetize a hobby or side gig one ardently enjoys. You need not have a prominent name or extraordinary skills to embark on this path. It primarily involves a significant amount of research and, more importantly, diligent effort. Nowadays, virtually every type of gig can be monetized through various platforms. If a suitable platform for monetization is unavailable, there is always the option to develop one, which could result in even greater financial rewards.
